vocabulary:
  name: Regency Energy Partners Vocabulary
  description: >-
    Domain vocabulary for Regency Energy Partners LP, a midstream natural gas
    master limited partnership engaged in gathering, processing, compression,
    treating, and transportation of natural gas, crude oil, and natural gas
    liquids. Regency operated in North Louisiana, West Texas, and the
    Mid-Continent region until its acquisition by Energy Transfer Partners in 2015.
  version: 1.0.0
  created: '2026-05-02'
  modified: '2026-05-02'
  source: https://ir.energytransfer.com

terms:
  - term: Master Limited Partnership (MLP)
    definition: >-
      A publicly traded limited partnership structure common in the US midstream
      energy sector. MLPs combine the tax benefits of a partnership (pass-through
      taxation) with the liquidity of publicly traded securities. Regency traded
      on the NYSE under the ticker RGP.
    tags:
      - Corporate Structure
      - Finance

  - term: Midstream
    definition: >-
      The segment of the oil and gas value chain between upstream production and
      downstream refining/distribution. Midstream activities include gathering,
      processing, treating, compression, transportation, and storage of natural
      gas, crude oil, and NGLs.
    tags:
      - Industry Segment
      - Core Business

  - term: Gathering
    definition: >-
      The collection of natural gas or crude oil from multiple wellhead locations
      via a network of smaller diameter pipelines into a central facility for
      processing or further transportation.
    tags:
      - Operations
      - Infrastructure

  - term: Processing
    definition: >-
      The treatment of raw natural gas to remove impurities and separate natural
      gas liquids (NGLs) from the methane stream. Processing plants produce
      pipeline-quality residue gas and NGL streams including ethane, propane,
      butane, and natural gasoline.
    tags:
      - Operations
      - Infrastructure

  - term: Natural Gas Liquids (NGLs)
    definition: >-
      Hydrocarbon components separated from natural gas during processing that
      remain liquid at surface pressure. NGLs include ethane (C2), propane (C3),
      isobutane (iC4), normal butane (nC4), and natural gasoline (C5+).
    tags:
      - Commodity
      - Products

  - term: Compression
    definition: >-
      The mechanical process of increasing natural gas pressure to move it through
      gathering pipelines and transmission lines. Regency provided contract
      compression services as a core business segment.
    tags:
      - Operations
      - Service

  - term: Treating
    definition: >-
      The removal of contaminants from natural gas streams including carbon dioxide
      (CO2), hydrogen sulfide (H2S), and water vapor to meet pipeline quality
      specifications.
    tags:
      - Operations
      - Quality

  - term: Residue Gas
    definition: >-
      The methane-rich gas remaining after NGLs have been extracted during
      processing. Residue gas meets pipeline quality specifications and is
      typically sold to natural gas marketers or utilities.
    tags:
      - Product
      - Gas

  - term: Throughput
    definition: >-
      A key performance metric for midstream MLPs measuring the volume of
      gas or liquids processed or transported per unit of time, typically
      expressed in MMcf/d (million cubic feet per day) for gas or Bbls/d
      (barrels per day) for liquids.
    tags:
      - Metric
      - Operations

  - term: Gathering and Processing Agreement (G&P)
    definition: >-
      A long-term contract between a midstream operator and an upstream producer
      governing the terms under which the midstream company will gather and
      process the producer's gas, including fee structures and volume commitments.
    tags:
      - Contract
      - Commercial

  - term: Fee-Based Revenue
    definition: >-
      Revenue earned from fixed per-unit fees for gathering, compression, or
      processing services regardless of commodity prices, providing more
      predictable cash flows than commodity-sensitive contracts.
    tags:
      - Finance
      - Revenue Model

  - term: Energy Transfer
    definition: >-
      The Dallas-based midstream MLP that acquired Regency Energy Partners in
      2015 for approximately $11 billion in an all-unit transaction, merging
      Regency's assets into Energy Transfer Partners' broader midstream network.
    tags:
      - Corporate
      - History

  - term: Permian Basin
    definition: >-
      A major oil and gas producing region in West Texas and southeastern New
      Mexico where Regency held significant gathering and processing assets
      following its acquisition of PVR Partners in 2014.
    tags:
      - Geography
      - Operations